Bitcoin is about to be breaking out of This next consolidation phase and I Think this breakout will be happening Next week because next week we will get The new inflation data out of the us and This will cost massive Market volatility So don't forget to watch this video till The end because I will be talking about Why next week is going to be so Important to be paying attention towards I will go over the most important Consolidation faces I will talk about Some historical patterns we're currently Creating I will give a huge update on my Trade the trade that I just set up and Many more important charts we need to Discuss so with that being said don't Forget to snap up that like button on Today's videos let's smash it back about 500 and with that being said let me jump Straight away in towards the content of Course like I've been saying ever since Bitcoin enters this range for already Over 17 days right now Bitcoin is Sidewaysly consolidating and basically What we're waiting for is to just see Either a break below the green box of Support to see Bitcoin going lower and For us to open up a short position or Either for Bitcoin to be breaking above The top side and for us to be opening up New long positions so yeah Bitcoin is Still consolidating and as soon as it Breaks outside of this region we will

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Start to see the massive volatility Really hit the market you can see here As well in the four early time frame Basically as soon as Bitcoin breaks Above the previous Range High in the Market that is the point where I would Be expecting we're going to see more Volatility but like we can currently Still see as long as Bitcoin is trading Within the yellow box we are not going Anywhere and we just have to wait a Little bit longer before we're going to See the breakout so as soon as Bitcoin Does decide to be breaking the Resistance on the top side or either the Sport on the lower side we will start to See massive Market volatility and at the Same time we can currently clearly see On the four only time frame for Bitcoin We are actually starting to create a Small little down trim that is providing Resistance every single time we touch it And just a few hours ago we touched this Level again and we saw a minor rejection So the level to break as well right now In the image short term will be this Downward sloping resist line so keep Your eyes wide open on this level right Here also of course we do know that We're creating this consolidation phase And Bitcoin has been trading in it for Already more than 17 days and I am Saying right now that I'm expecting it's Going to be breaking next week why am I

Saying so is because next week we will Have the U.S inflation data and to be Very honest it is expected that the Federal Reserve is going to keep Increasing the rates here probably until More banks are going to collapse and They will probably keep doing this Because the core inflation looks to be Sticky because the forecast currently is That core inflation will be dropping Down to five percent but of course five Percent is still extremely high while Inflation rate year over year is going To drop down to 3.2 percent so of course The year-on-year inflation looks to be Dropping quite significantly but as long As the core inflation remains to be high And sticky the Federal Reserve is Probably going to keep increasing the Rates because they want to get the core Inflation below two percent so that is Also a reason that's probably for the Coming four meetings we still have in 2023 we will probably see rate hikes Getting initiated so let's see if that Is going to be playing out here and that Is why it will be super important to Just see how the market and the banking Environment is going to survive the Higher interest rates environment so That is going to be very important to be Paying attention towards and that is Probably why we will see another Interest rate hike decision on the next

Meeting so the next meeting is going to Happen in approximately 17 days so yeah For that we just have to wait a little Bit longer but next week is already Going to be super volatile due to the Fact that we're going to have the Inflation data so we can see as well on The 12 hour time frame that this is Actually very interesting to see how it Is currently playing out because last Time around as well after we saw a Significant pump Bitcoin sideways Consolidated for a couple wow for Approximately also two to three weeks Here and then at that time we saw higher Highs on the price section lower highs On the RSI and we're seeing something Similar once again right here we're Creating a small little bearish Divergence and after that Movement we we Saw actually another move towards the Upside before eventually going down Again to 24 000 US dollars so let's see How it's going to be playing out this Time around of course like you guys know I'm still long on bitcoin making an Approximately 40 000 US dollars in Profit right now here and I've set up a New trade here on 29.8k but so far my Trade has not ended yet so if Bitcoin Comes down towards this green box of Support I'm going to be opening up a new Small little Bitcoin long position and If you actually want to be joining me

You can actually right now claim a free 1 000 US Dollars Bitcoin long or short Position all you need to do here is go To the link description sign up a new Account using the links above here Deposit 100 within seven days and enjoy Your free 1 000 US Dollars Bitcoin or Xrp long or short position so if you're Interested in that go to the link Description of today's video right now Furthermore we can still see on the Bigger perspective if we do break up of 31 000 the price targets remain to be The same it's going to be 37 000 US Dollars for me and of course if we do See a rejection of this level and we Move below approximately twenty eight Thousand dollars probably is a big Chance we could once again revisit the 25 000 US dollars so yeah those are the Most important levels to be looking at Right now name in the short term and Furthermore we can see that on the Three-day time frame the resistance Break is 31 000 US Dollars and if we do Break above that level we're literally Breaking above the three day high in the Market and that could re-initiate really A new move towards the upside at the Same time you can actually see the Bitcoin is creating somewhat of a rising Wedge right now here what is actually a Typical bearish wise pattern and and you Can currently actually clearly see that

The momentum is actually like on the Bigger perspective drying up a little Bit here so if Bitcoin remains to see Rejections from this upper solving Resist line I'm definitely going to get A little bit worried here and if we do Break that support line right here I Wouldn't be surprised to see Bitcoin go Down quite significantly so I'm going to Keep my eyes wide open on the support Line right here and if we do break below This level I would warn everyone out There in the channel so don't forget to Subscribe to the channel because if we Do break these important levels of Support we could see definitely Bitcoin Go lower and of course on the weekly Time frame as well we're creating right Now a small little bearish Divergence Then the last time we created a weekly Bearish Divergence it was all the way Back here at the previous ultimate and Then of course Bitcoin saw a gigantic Move towards the upside this time around We create a bullish Divergence and you Can see what happened with the price Action for Bitcoin at that point so Bears diverges right here on the weekly Time frame could still definitely get Invalidated and if Bitcoin sees a nice Little pushback towards the upside and If Bitcoin moves up significantly Towards the upside it's definitely going To get invalidated so let's see how it's

Going to be playing out the once again The most important resistance to break Is this horizontal level right here and As soon as we do break above it that is The point I won't be worrying about These bearish divergences anymore but of Course first we need to see that break Above that 31 000 US Dollars and of Course one thing that really could help Us is the dollar Index breaking down Here because if the dollar Index decides To be breaking down here it could Definitely help Bitcoin to grow Massively in value since Bitcoin is Invertedly correlated with the dollar Index so I'm going to keep my eyes wide Open as well and this chart right here Especially due to the fact once Inflation data comes out on the market The dollar usually tends to be moving Very significantly so that was it for me In today's update video tomorrow it's Monday again the new week is going to Start and the next week we will probably See a lot of volatility compared to this Week at least here so guys don't forget To subscribe to the channel share this Video with your friends if you did learn Something and I'll see you guys on the Next one peace out goodbye

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